The National Bank of Ukraine has amended the procedure for performing cash transactions in the domestic currency in Ukraine.
The respective amendments were approved by NBU Board Resolution No. 54 of 24 May 2018 On Amendments to Some Regulatory Documents of the National Bank of Ukraine (hereinafter – the Resolution).
The document has been drafted in accordance with Articles 7, 15, 33 and 56 of the Law of Ukraine On the National Bank of Ukraine and following the requirements of Article 1087 of the Civil Code of Ukraine.
The Resolution regulates the following:
1) economic entities shall receive a transition period for adjustment (by 30 June 2018), during which:
economic entities are allowed to use in their operations the forms for a statement on payment of money, an income cash order, a spending cash order, a registration journal of the cash documents, a cash book, a book of record of the cash paid and received by the senior cashier, and an act on the results of the inventory of available funds, as set forth by the Regulation on Cash Transactions in the Domestic Currency in Ukraine[1];
economic entities must develop and approve a procedure for the recognition of the cash balance and for the calculation of the cash limit. During this period, economic entities can use the cash limits, as previously calculated, set and approved.
2) specifics of cash recognition at the offices of economic entities are standardized, namely:
- accounting of the cash income in its actual full amount in a cash book based on income cash orders is deemed as the recognition of cash in the offices of institutions/enterprises and their separate units that conduct cash settlements by issuing cash orders and keeping a cash book
- accounting of the cash income in its actual full amount in a revenue and expenditure ledger (or a revenue ledger) based on purchase receipts is deemed as the recognition of cash in the offices of individual entrepreneurs that conduct cash settlements by issuing purchase receipts and keeping a revenue and expenditure ledger (or a revenue ledger)
- accounting of the cash income in its actual full amount based on the payment documents by generating and printing fiscal accounting checks and sticking them on the relevant pages of book of record of payment transactions or by entering the data of receipts into the book of record of payment transactions is deemed as the recognition of cash in the offices of the separate units of institutions/enterprises and in the offices of the individual entrepreneurs, that conduct cash settlements with the payment transaction registers (PTR) and/or books of record of payment transactions without keeping a cash book
- the Resolution also sets forth the use cases for the books of record of payment transactions.
3) procedure for performing the cash payments of up to UAH 50,000 by individuals to economic entities is defined
4) provisions of the Regulation on Cash Transactions in the Domestic Currency in Ukraine, approved by the NBU Resolution No 148 dated 29 December 2017, are brought in line with the current legislation concerning the independent establishment of the procedure for setting the cash limits by the State Treasury Service of Ukraine, as well as by controllers and recipients of budget funds.
The aforementioned document is agreed with the Ministry of Finance of Ukraine, the State Fiscal Service of Ukraine and the State Treasury Service of Ukraine.
The Resolution enters into force on the day following its official publication – 1 June 2018.
[1] Approved by NBU Resolution No. 637 dated 15 December 2004, registered by the Ministry of Justice of Ukraine as No. 40/10320 on 15 December 2004 (as amended).